Positive, all the qe we take back. We werent in a recession and wont have needed any of it, which is weird. Huffington post never mind. Lead story on Huffington Post is what the i guess the dallas fed figured out what the great contraction, theyre calling it, what it cost us, Something Like 14, 15 trillion. Wow. Yeah. In lost wages and everything, take everything into account for the and naturally the Huffington Post points a finger squarely at quality for causing the whole thing. But anyway, lets check on the futures at this hour. Yesterday after all was said and done, the averages were the dow was unable to hold on to the positive gains that it started with, closed down a point. Up 36 points today. The s p indicated maybe up 4 1 2. S p is at a level that some people think could be important to make a stand if we want another leg to this rally. There you can see the nasdaq, which is probably a performing better, but doing pretty well since facebook and even though facebook is not a nasdaq stock. Did you see facebook, where it is, within four cents of where it was within four cents of the Closing Stock price. Still at like 37. 60 something. That was the guy that had a good day on monday. Yeah. The bad guy with a bad day on monday, is the friend youll talk about right now, bill ackman, with herbalife and the wiener schnitzel had a bad day. A lot of bad days. I watched it, tmz, for what its worth, it is pretty cool. They have cameras everywhere. Did you see the i watched i didnt see what they got. What is leathers, what is her first name . Sidney or she has gotten together with david faber, they did the report on the porn guy. I only got one source. She did get together with the guy he interviewed, the porn king of l. A. , and they have a shot of her walking out, getting into a sports car with all of herta t tattoos, shes going toa porn movie and theyre going to do the phone sex and everything. Are you kidding . No. This may be the biggest opening of speaking of hollywood, adding to gdp, you got to everybody, all the economists are raising gdp. This is going to would this not be a big hit . Huma is taking an extended leave, apparently, did you see that . Shes on vacation. The clintons are so pod at this point. I forgot about Everybody Loves me now and now this comes back and everybody is talking about the blue dress again, right . It dropped off. I kind of stopped. Can i tell you about other breaking news . Bigger than that . Yeah. Okay. Are you ready . I am. Listen up, bill Ackmans Pershing Square has taken a 9. 8 stake. This is something that cnbc has learned. Air products is a 22 billion producer of Industrial Gases that are used in industries, everything from Steel Production to Food Processing to electronics production. This stake, which cost ackman 2. 2 billion to acquire, it is the biggest investment pershing has ever made at cost. Earlier this month, ackman told investors he built up a major position on a large Cap Investment grade u. S. Corporation and ever since that time, the speculation took off. Some were actually speculating that air products might be that company. That stock has risen from the low 90s to above 105 at its close yesterday. 105. 61 is where it closed yesterday. Last week, air products adopted a poison pill plan. The company cited unusually high volumes of stock trading. This gives existing shareholders the right to accumulate deeply discounted new shares if another Group Acquires 10 or more of its shares outstanding without board approval. That poison pill prevented ackman from taking a larger stake in air products. Yesterday he said he zs acknowledge the speculation complicated his plans. He said air products major competitors include frances air lockheed, lendy and praxair. He thinks air products is undervalued and has ideas on how to make the company more valuable. He wouldnt elaborate, but a look at his involvement in the Canadian Pacific railroad, it may be a plaque book for what he plans to do with air products. Ackman bought a 14 stake, he then proposed bringing in new management. The board resisted that and ackman brought a proxy contest. He won an overwhelming majority of the vote, Something Like 90 , ended up garnering 8 out of 14 board seats. And at that point, he did bring a new ceo, an experienced rail executive, hunter harrison, remember that, we talked with him about this. Last june was when he brought in harrison. Canadian pacific shares soared from 8 billion when ackman first got involved to over 20 billion today. Now, in catching up with them, i got the chance to ask him about herbalife too. Thats the company that he very publicly shorted. And which just this week reported a much better than expected Earnings Report. Ackman has not publicly commented on herbalife since january of this year, and the stock has continued to climb. What he told me at this point is i havent covered a single share. Ackman wouldnt comment beyond that, but did put out a press release earlier this year laying out his concerns about herbalifes earnings, some thing he pointed out, this is a company that has 18 Revenue Growth, huge earnings per share growth, thats because they have a lower tax rate, brought back a bunch of the stock. Look at the operating income, up 3 . Points out in that press release those are not sustainable measures. Also, if you look at this, the ten q they restated their Balance Sheet for 2012, 2011 and 2010. And price water house, their auditors did not review the financials and the company itself does count venezuela as a huge market. They had a big problem trying to exchange bolivars for u. S. Dollars. If youre looking at it in terms of what they could bring back, those bolivars to u. S. Dollars at this point, it would be 75 less than is reported on their Balance Sheet for a writedown of 93 million. This will continue. We saw herbal life shares yesterday, up Something Like 5 or 6 as we were watching in the premarket. By the end of the day, closed down 50 cents. This is still something that theyre going to be watching very closely. Do we know is carl icahn going to short air products . I dont know. Watching what carl icahn had to say, you can imagine he probably would target this. Ackman is saying that he sent a letter that sort of indicated he sent a letter to investors. People track down air products. How do they do that . What did he say . Bigger than a bread box it is a an industry very difficult to get into. Has high barrier costs, that it has multiple different and people watch volume and stuff and people figure out what it was. There was speculation and stock did rise on the speculation. The company adopted this poison pill plan. He thinks its being mismanaged, undervalued based on undervalued. Didnt usually what he means. Look back in his playbook, that hasnt been what hes done in the past. Sometimes it worked. Sometimes it worked. This is an interesting arena. There are three other major competitors. The guy shook up the jp penney is back in and he brought his guy in for a year and the guy handed out some buttons with pictures on them and now hes gone and the original guy is back. You can look at wins and losses. Hong kong dollar still not tied to still is tied to i dont know. Hes had his had some huge home runs. How much has he made in cp . 8 billion to 20. Is that the market cap . The market cap of the company. The market cap of the whole company over that time period. Hes got a lot of money in Canadian Pacific. This is the biggest bet they have ever done. I want to look at where the stock is right now. Cant tell. Got a big wide this is something. We have three hours. We have is it really the employment report this week . It is. Wasnt it just were just getting older. The months are and time is andrew is back tomorrow. Yes. Are you alerting viewers or warning viewers . Alerting or warning. Well hear from nbc parent comcast also today. Mastercard, sodastream, allergen and garmin among others before the bell. We have a few other stocks to watch today. All of these are after the bell movers from last night. Amgen initially traded higher, reporting better than expected earnings and revenues and they said it expects full year revenue at the upper end of its range. When it was all said and done, looks like down a little. Take two posted a smaller than expected loss on revenues. It beat the street. Shares rising on that news. And earnings and revenue at restaurant chain Buffalo Wild Wings topping analysts consensus. And hasnt been a lot of sporting events to watch, that helps, football season, Buffalo Wild Wings, they go hand and hand, right . They do. And aflac, aflac, the earnings and revenue also surpassed expect takings. Did they get a new guy . Not gilbert . They had the guy, they did find a new guy. Talked about it last time. A knockoff, cheaper version. The Insurance Companys guidance was slightly below forecast. See where that stock opens up today. And well talk to our friend ann amos, aflac ceo in the next half hour. I think hes doing it himself now in house. Aflac. We didnt get the job. I was pretty close. Aflac. Thats pretty close, right . Thats pretty good. Yeah. Going for the annoying i usually do. That worked well. Yeah. Did sound like gilbert. Lets talk about technology news. Facebook stock is close to reclaiming its 38 ipo price for First Time Since going public last year. The shares have surged more than 40 over the last week after the company came out with the Quarterly Results that really surprised the street. You can see right now thats trading at 37. 87. Just about 13 cents shy of the 38 ipo. Microsoft is losing money on surface tablets. The annual report shows slow sales have been eclipsed by advertising costs and accounting charge as well. And china mobile says its chairman met with apple ceo tim cook in beijing yesterday. The two are said to have discussed cooperation, but no Additional Details made available. China mobile is the only chinese carrier not to have a deal with april to apple to sell its iphone and ipad products. Auto news, fiat winning a sparbl vict partial victory for a full buyout of chrysler. A u. S. Judge accepted the legal positions in two key disputes with an autoworkers Health Care Trust that is a minority, as you know now, after everything. And the judge stopped short of ordering the trust to sell its chrysler stake and the remaining issues will now go to trial. And ford plans to offer a natural gas version of its f150 pickup truck. Wow. The trucks will have factory installed valves, pistons and rings to handle natural gas and gasoline and the option will cost 315. The buyers will have to pay an installer to put in new fuel tanks, lines and injectors, costing 7500, 9500. Ford, General Motors and chrysler have natural gas powered heavy duty trucks. It costs the equivalent of 2. 11 a gallon. You make it back, but will take time. It is like anything, 3. 62 is the average for a gallon of regular gas. Were in a position now where you dont know what comes first, the chicken or the egg, the infrastructure or the cars that need the infrastructure. Youll see more places where you can get it, as more cars can run on it. I see more cars that are plugged in lately. How beautiful is the way this works, though, now that fracking and now we see it is 2 and now people say 2 thats cheaper than 3. 62. You can see the free market, the way it will migrate people to using natural gas and all our energy costs will come down asd birthday. How many times do we have to learn names . Adam smith first wrote that book, in the 19th century, or 18th century. All knowledge is cyclical. Yeah. Then it went away andn brought it back and then went away, the elites kill it. And then Milton Friedman came along, and now paul krugman and we just learn it over and over and over again. I dont know. Like everything in life. Really . Yeah, pretty much. I guess so. Pendulum swing. It does, yeah. It is a dismal science. Economics. I agree with half of that. It is dismal. I dont agree with the science. How can both krugman and friedman and people like him win a nobel prize when theyre die metically opposed in all of their thinking, which is right. Who is right . Sorry. But i digress. Tune in for that. Neat to talk about we used to run what a perfect foil, phil donahue with his hair and everything, so clueless, and he used to try to go up against Milton Friedman and the look on his face, remember that video we would run, a cnbc ad, where hes asking those stupid questions and Milton Friedman buries him and cant do anything but just laugh at the end of it. He hasnt learned anything either. How old would he have been today . Phil donahue . No. Milton friedman. I dont remember. Would have been quite a bit i think over 100, right . I think. Ill look that up. We should know since were celebrating his birthday. The jury in the Fabrice Tourre case will begin deliberations today. He is accused of secretly helping paulson and company construct a 2 billion deal that it could bet against. He faces penalties and lifetime ban from the securities industry. Me, im looking this up. Time for the Global Markets report. 101. Would have been 101. Thats what i thought. And wasnt adam smith 17 i think anyway, Ross Westgate is standing by in london. See a little green, see a little red beneath you. Whats going on over there, ross . Well, were finding it hard to find any momentum. So much event risk in the states with the adp, the Second Quarter gdp figures and the fed as well. Investors dont want to put much in major asset classes. Waiting for stocks here, fairly evenly split. Bit more weighted to decliners. But the indices are mixed. Look at the ftse 100, has been up to the best numbers of the day. The xetra dax is fairly flat. Consumer confidence up to the best level for about three years. Retail sales down in june. Thats the worst for this year. The cac quarante is fairly flat. The ibex is down. Away from the headline numbers, we look really at a lot of individual corporate news. And thats where the focus has been today. Semens down. 2 , confirmed peter loscher, the ceo is gone, hes resigned. That follows second profit warning of the year last week and the cfo is taking over. So thats been confirmed this morning. They also announced today new orders which beat expectations, but net profit came in a little weaker. Ab inbev, the biggest beer brewer, Second Quarter, selling less beer. The maker of budweiser. Profit up 5. 8 . The market likes that, up 7 . Peugeot doing well, up 7 as well. Cut its net loss, still not making any money but cut its net loss by half in the First Six Months of the year. Trying to reduce its burden of cash by half as well. And they have better news yesterday, the European Commission and the Financial Assistance that france gave peugeot doesnt conflict with rules. Theyre also starting to bend their lines for gm. And diageo, 2. 68 , the global spiritsmaker downgrading, suggesting we may be hard to maintain double digit growth in sales in emerging markets. But did have a 5 rise in net sales, the fiscal year, increased dividend by 9 . And really where theyre benefitting from, of course, is better sales in the u. S. Really switching their marketing spend, up their marketing spend for a year and a lot more of that is going into the u. S. A focus of Global Companies saying the marginal change in growth is coming from the states rather than elsewhere. Theyre putting more tension into that. Thats where we stand with the individual news at the moment. Elsewhere, pretty steady and unchanged ahead of all the u. S. Data and fed we have coming up. Back to you guys. Ross, thank you very much. Im glad you brought up diageo. Well focus on that next. As ross mentioned, rising liquor consumption in the United States boosting diageos full year results. Well talk to one of the companys top executives right after this. Lets get the National Weather forecast from the weather channels alex wallace. Crisp, Beautiful Day yesterday. Kudos. Kudos. You are welcome. You are welcome. You cant blame if he mee for wh me for what is to come, though. Right now, not so great in the south, rain impacting us in and around atlanta after a couple of dry days. Rain this morning. Well keep things unsettled for us, thanks to a cold front trying to move into parts of the south. Ahead of it, showers and storms well see coming back into charlotte, charleston, back down to north florida as well. Now, while all that is going on, several different cold fronts continuing to slide through parts of the midwest. And has kept us a bit on the cool side over the last several days. Well keep that going over the next few. Through at least the late part of the week, high temperatures here for us for the upper midwest and great lakes. A bit below average by anywhere from 5 to 10 degrees. Today, temperatures, look at that 74, marquette. Cincinnati, 76 degrees. Not bad at all. In the northeast, after your great last few days, cold front will be marching in towards the east coast cities. Out ahead of it, moisture flowing northward. A threat for storms coming in, not for today, i think today will be your last day. Boston, new york, down towards philly, but tomorrow, those thunderstorms will return, potential for some heavy downpours out there. Hope you enjoyed it. Thanks will be moving downhill for the megalopolis. Back to you. Will it clear up by the weekend . Weekend, yeah. Half the weekend i would say looking pretty good out there for you. Doesnt look like it will